Washington Trust Bancorp Inc. (WASH) Director Victor J. Orsinger II Sells 1,000 Shares
Washington Trust Bancorp Inc. (NASDAQ:WASH) Director Victor J. Orsinger II sold 1,000 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $51.98, for a total value of $51,980.00. Following the sale, the director now directly owns 2,130 shares of the company’s stock, valued at approximately $110,717.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Washington Trust Bancorp Inc. (NASDAQ:WASH) traded down 0.48% on Monday, hitting $52.25. The company’s stock had a trading volume of 38,453 shares. Washington Trust Bancorp Inc. has a 52 week low of $34.59 and a 52 week high of $54.75. The stock’s 50 day moving average price is $43.92 and its 200 day moving average price is $40.31. The stock has a market capitalization of $894.57 million, a P/E ratio of 20.02 and a beta of 0.60.
Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, October 24th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.08. Washington Trust Bancorp had a return on equity of 11.68% and a net margin of 23.33%. On average, analysts forecast that Washington Trust Bancorp Inc. will post $2.64 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Compass Point boosted their price target on Washington Trust Bancorp from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, July 26th. Keefe, Bruyette & Woods downgraded Washington Trust Bancorp from an “outperform” rating to a “market perform” rating and set a $41.00 price target for the company. in a research report on Monday, October 3rd.
Hedge funds have recently added to or reduced their stakes in the stock. Hilton Capital Management LLC acquired a new stake in Washington Trust Bancorp during the second quarter worth about $5,309,000. CWM LLC raised its stake in Washington Trust Bancorp by 1,000.0% in the second quarter. CWM LLC now owns 3,300 shares of the financial services provider’s stock worth $125,000 after buying an additional 3,000 shares during the last quarter. Essex Financial Services Inc. raised its stake in Washington Trust Bancorp by 5.5% in the second quarter. Essex Financial Services Inc. now owns 13,528 shares of the financial services provider’s stock worth $513,000 after buying an additional 705 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Washington Trust Bancorp by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 67,987 shares of the financial services provider’s stock worth $2,578,000 after buying an additional 382 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Washington Trust Bancorp by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 666,689 shares of the financial services provider’s stock worth $25,280,000 after buying an additional 42,324 shares during the last quarter. Institutional investors own 52.34% of the company’s stock.
About Washington Trust Bancorp
Washington Trust Bancorp, Inc (Bancorp) is a bank holding and financial holding company. The Company operates through two segments: Commercial Banking and Wealth Management Services. Its Commercial Banking segment includes commercial, residential and consumer lending activities; equity in losses of unconsolidated investments in real estate limited partnerships, mortgage banking, secondary market and loan servicing activities; deposit generation; merchant credit card services; cash management activities, and direct banking activities, which include the operation of automated teller machines (ATMs), telephone and Internet banking services, and customer support and sales.
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